After Correcting for Inflation, Spending Per Pupil in Public Elementary

question 18

Multiple Choice

After correcting for inflation, spending per pupil in public elementary and secondary schools in the United States over the last three decades has

• A) more than doubled.
• B) fallen dramatically.
• C) remained roughly constant.
• D) increased, but only slightly.

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Definitions:

Gambling Monopoly

A situation where a single entity controls the provision of all gambling services and activities within a particular jurisdiction.

X-inefficiency

The difference between efficient behavior of businesses assumed or required by economic theory and their observed behavior in practice, often due to a lack of competitive pressure.

Tight Supply Conditions

A market situation where the supply of a good is limited, often leading to higher prices.

Nonrivalrous Consumption

A consumption characteristic where one individual's use of a good does not reduce availability to others.